4K video editing, specs good enough

Hey, in coming july I would like to edit a 30 minute movie shot on Alexa in 4K resolution. Is this machine good enough to do this task? I'll be editing in premiere pro. I'm considering to buy this baby.

Cooler Master Silencio 550
700 Watt Cooler Master feed
Intel® Core™ i7 4770 3.4 GHz
ASUS B85M-G
7.1 sound card
16GB DDR3 RAM
SSD Samsung 840 Evo 120GB
1000 GB SataIII HDD
Blu-Ray player: LiteOn
AMD Radeon HD R9 280X 3GB (was als considering GTX770 if it's worth an extra 180 euros)
51-in-1 Cardreader
TP-Link 300MB Wifi kaart
Costs: 1200 euros

This is about my budget limit
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More about video editing specs good
  1. if you only want it for editing not for gaming

    then consider lowing pudged for gpu and get stronger cpu

    something like Intel Core i7-3930K Sandy Bridge or Intel Core i7-4820K and oc it

    change Gpu to something like HD 7790

    Power supply to 500w Seasonic


    editing is all cpu
  2. If your using Premiere Pro then you will want the nVidia GPU ... That will allow you to render using the Mercury GPU Rendering engine vs. CPU rendering using the AMD Radeon (no GPU support for Radeon cards)

    You could however use that for a Feathercoin or Litecoin Mining rig and just wait longer to render (keeping the R9 280x)
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